Main shares progress on strong sentiment in US

Market report: Share prices made progress in Dublin yesterday on the back of a better day in New York and good sentiment in …

Market report: Share prices made progress in Dublin yesterday on the back of a better day in New York and good sentiment in London.

Dealers said that volume was thin throughout the session, but were heartened to see a few more buyers showing renewed interest in the market.

Anglo Irish Bank was one of the main features. The company's management is meeting with investors in the US and has generated buying interest. The shares gained 3 cent in Dublin ending the session at €11.95.

Amongst the other financials AIB made gains, adding 18 cent to €18.30. Bank of Ireland, which will announce full-year results next week, was 15 cent better at €14.30. Irish Life & Permanent though was in negative territory, shedding 3 cent to €18.75.

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CRH put in a good performance in line with higher values amongst its international peers. The stock rose by more than 1 per cent closing at €25.95, up 35 cent.

Elan, which held its annual general meeting yesterday and continued to strengthen. The shares gained in the US and in Dublin, where they closed 22 cent better at €13.65.

Greencore was also a talking point. The Farmers Journal reported that staff at Greencore's Athy malting facility and at the other branches in Minch Malt have been informed that a review is being carried out on activities and that a decision will be made over coming weeks and relayed back to them in June.

Dealers reported good buying interest in the stock following the news that sent Greencore 7 per cent higher to €4, a gain of 26 cent on the day. In other news, Kingspan issued a trading statement saying that its core markets are quite robust and are anticipated to remain so for the foreseeable future.

At its agm, chairman Eugene Murtagh told shareholders the board is confident that operating profits and earnings per share will be well ahead of 2005 and will exceed market expectations. Kingspan shares added 20 cent to €13.05 on the news.

Settlement Day: May 30th